Transparency Market Research (TMR), in a new report, unfolds the dynamics at play in the global influenza vaccines market. The TMR report, titled, “Influenza Vaccine Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecasts 2012–2018,” discusses emergent opportunities in the market and threats that companies need to factor in when formulating growth strategies. The estimated size of the global influence vaccine market in 2015 was US$4 bn, the report states.
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Influenza vaccine, also popularly referred to as a ‘flu shot,’ is used as a protective measure against the influenza virus. The vaccine is typically composed of three different influenza viruses: influenza type A with the H1N1 virus strain, influenza type A with the H3N2 virus strain, and the influenza type B virus strain.
Currently, the key target markets for top corporations in the influenza vaccine market are emerging economies where vaccination against influenza is gaining more acceptance, the private sector entities in low-income and middle-income economies, and countries where United Nations health missions are most concentrated. The report also notes that increased funding secured through public-private partnerships, donors, and governments will also provide an impetus to research and development projects, giving the market a shot in the arm.
The authors of the report note that in recent years, the global influenza vaccine market has posted double-digit growth after large-scale influenza epidemics have threatened to morph into a pandemic. TMR estimates that between 2008 and 2010 alone, the global influenza vaccine market has registered a 65% CAGR owing chiefly to the worldwide panic caused by the Swine Flu pandemic caused by the H1N1 virus during that time. However, the demand for the H1N1 flu vaccine has since waned.
A detailed study of the geographical segments of the influenza vaccine market reveals that the United States was the largest market for influenza vaccines in 2010. The U.S. was trailed by China, the report notes.
Dealing with an influenza outbreak can exert a high degree of stress on a country’s healthcare machinery. This is especially true in densely populated countries with a tropical climate. However, with unavoidable seasonal outbreaks of influenza continuing to occur, a sustained demand for influenza vaccines is expected to continue worldwide.
From the competitive standpoint, the global influenza vaccine market sees nearly 75% of its revenues emerging from the top six players. Some of these players are Pfizer, GSK, Merck, Sanofi-Pasteur, and Novartis. The report conducts a comprehensive analysis of these leading market participants besides analyzing the competitive strategies of emerging players and the impact of their entry on the overall market dynamics.
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